In the field of automobile segment, two-wheeler is the largest market. Many companies offer various models in this segment that ranges from heavy bikes to standard scooters. For a common man, it is the most accessible mode of transportation in nearby areas. As per the motor vehicle act, one needs to have insurance of vehicle as well as the third party, and hence every two-wheeler owner needs to get his vehicle insured every year unless he has an insurance policy for more than a year. It is known as a part of general insurance where numerous hazards to vehicle and owner are covered.
Getting the right bike insurance plan is crucial
To get the right insurance policy for a two-wheeler, one needs to contact an insurance company that offers coverage for two-wheeler. One can visit the branch of the concerned company or contact an agent who can help him get the right insurance for his two-wheeler. As another option, one can also go for the online option where he needs to provide the documents and pay for the premium. In a few minutes, he can get the policy online, and the vehicle is covered accordingly.
One can go for any option as per his choice and any company to have the policy, but he needs to keep a few points in focus while going for the policy. These points are mentioned here.
- Trustworthiness: If you want to buy a Two-Wheeler Insurance Policy, the first point you need to check is if the company that offers insurance is reliable and trustworthy enough or not. This can be known from various platforms. You can check the site of the company, its reviews by the clients, claim settlement ratio, and its certificates on the website of the regulatory authorities. If you are still confused, you can check the same with the experts or put your question on social media site from where you will know the truth. If any of your friend or relative has got a claim from any company, you can take his review and consider it accordingly.
- Client-Friendliness: The insurance service provider also has to face the rules, but at the same time, it must be client-friendly also. In the case of a claim, this aspect can be checked, but one must not wait till that stage and need to know if he can have the best service when he truly needs them. This is an essential element that one must check before going for buying the insurance.
- Compare the Premium: One of the essential elements for any insurance service provider is reasonable premium rates. Hence one needs to check the same before going for having the concerned two-wheeler policy from any of the service providers. One can check premium from different service providers online on the site of the service providers as well as third-party platforms. However, here one needs to remember that the premium must be compared for the same value and features else there may be variation also.
- Terms and Conditions: When the insurance coverage for a two-wheeler is about to expire, the buyer needs to start checking different policies. He must go through various terms and conditions mentioned in the policy so that in case of any exclusion or inclusion, one can know and take necessary actions. Usually, companies mention all terms and conditions in the policy document, and hence one needs to go through it thoroughly. Many terms and conditions can affect the policy. For example, claim for identical parts, and not original parts make a huge difference to the premium as well as the vehicle. The coverage and third-party claim amount must also be clearly mentioned in the policy.
- Check the Discount: The premium rate is the base of the policy, but that can be reduced with the help of specific discounts if the buyer acts prudently. In many cases, companies offer discounts to the members of particular associations and clubs, which can be any percentage from 5 to 50. If one can be a member of the concerned association or club, it can be beneficial for him to get the discount on the insurance of various vehicles.
So, these points can help one get a policy with the best features. Keep them in mind and you will be able to crack the best deal.